The UK Financial Conduct Authority (FCA) today issued a consumer warning regarding Falcon Financial Solutions Ltd and Thestral Financial Services Ltd.

The regulator says it has removed permissions from Falcon Financial Solutions Ltd and Thestral Financial Services Ltd. They are no longer permitted to carry out any regulated activities. Any investments with Falcon or Thestral may not be protected, and investors could lose all their money if they invest with these firms.

Falcon and Thestral are controlled by the same individual, Mr Bhupinder Rehal. Falcon is connected with Cavendish Incorporated Ltd, which the FCA recently issued a consumer warning about.

Cavendish appeared to have been carrying out investment activities without permission and consumers may have invested substantial sums in bonds or loan notes issued by Cavendish. Consumers may have been misled about the scope of Cavendish’s permissions and the protection afforded to their investments.

Due to this connection, the FCA is concerned that Falcon and Thestral may also be offering investments to customers. Customers that invest with Falcon and Thestral could lose all their money. The regulator believes these firms may be part of a network of credit brokers/payment services firms that are offering investments to consumers which may not be protected.

Neither Falcon nor Thestral has ever been permitted by the FCA to provide regulated investment services. Any investments offered by either firm could pose significant risks to consumers due to the potential lack of regulatory protection.

Neither firm disclosed any connection to Cavendish when they applied to the FCA. The regulator explains that it has attempted to engage with both firms to understand their connection to Cavendish and other firms, but they have not responded.